Firmus Technologies to reserve half of $5.5B IPO for existing backers, AFR reports
Furus Grid, a data centre operator, has announced plans to allocate approximately half of its initial public offering (IPO) shares to its existing shareholders, according to sources familiar with the matter. This move could enable Nvidia and Blackstone, two prominent investors, to increase their stakes in the company. Firmus Grid has received indications of investor interest far exceeding the size of its offering, which is seeking to raise up to US$5.5 billion, including a greenshoe option.
The bookbuilding process for the IPO, one of Australia's largest, was moved up from Friday to Thursday, October 8. The final details of the deal may still change, but the IPO is priced at A$11 per share, resulting in a valuation of around A$43.7 billion (US$30.3 billion), which is lower than earlier expectations.
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